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House Journal: Page 1677: Tuesday, April 16, 1996

Page  29

 1   subdivision the entire amount of income surtax
 2   collected from taxpayers residing in the political
 3   subdivision.
 4     5.  The costs of administration shall be determined
 5   by the department of revenue and finance, and shall be
 6   based on a share of the total cost of administering
 7   the department, in the same proportion as the amount
 8   of income surtax collected is to the amount of state
 9   income taxes collected.
10     6.  The director of revenue and finance shall
11   administer the income surtax imposed under this
12   chapter and sections 422.4, 422.20 to 422.31, 422.68,
13   and 422.72 to 422.75 shall apply with respect to
14   administration of the income surtax.
15     Sec. ___.  NEW SECTION.  76.20  INCOME TAX RETURNS.
16     An income surtax imposed under section 76.19 shall
17   be made a part of the Iowa individual income tax
18   return subject to the conditions and restrictions set
19   forth in section 422.21.  The director of revenue and
20   finance shall provide on income tax returns a
21   requirement that each person required to file a return
22   numerically identify the city of residence of the tax-
23   payer and the merged area in which the taxpayer
24   resides.
25     Sec. ___.  NEW SECTION.  76.21  PROPERTY TAX CREDIT
26   - AGRICULTURAL AND RESIDENTIAL PROPERTY.
27     Local income surtax revenues collected under
28   section 76.19 shall be used to offset the annual levy
29   of property tax on property assessed as agricultural
30   or residential property.  The surtax shall be
31   distributed in the following manner:
32     Upon receipt of the revenues collected from the
33   income surtax, the county treasurer shall notify the
34   county auditor of the amount of income surtax revenues
35   received.  The auditor shall determine the amount to
36   be credited to each parcel of real property located in
37   the political subdivision and assessed as agricultural
38   or residential, and shall enter such amount upon the
39   tax lists as a credit against the tax levied on each
40   parcel of real property assessed as agricultural or
41   residential.  The county treasurer shall show on each
42   tax receipt the amount of tax credit to be applied
43   against property taxes payable in the fiscal year
44   following the year in which the surtax was collected
45   for each parcel of real property assessed as
46   agricultural or residential.  In case of change of
47   ownership, the credit shall remain with the parcel.
48     The amount of the credit funded by revenues from
49   the income surtax imposed under section 76.19 shall be
50   an amount equal to a pro rata share based upon the

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Wed Apr 17 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01677.html
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